Legal Question in Consumer Law in Florida

New Car Contract Changes inFlorida

I traded in a vehicle and bought a new vehicle with my contract stating a 9.9% interest rate. They said they would obtain the financing the next day, and would try and get a lower rate. Yesterday, they told me that they had gotten a much lower rate and my payments would go down, however the bank is requiring more money down. I do not have, and do not want to put more money down. Do I have a choice? Also, if they come back with a higher interest rate, do I have to accept it or can I just return the car and get my trade back? Is the sale final since the financing isn't done yet? Are they able to do anything with my trade until the financing is finalized?


Asked on 6/01/09, 11:39 am

1 Answer from Attorneys
Alan Wagner Wagner, McLaughlin & Whittemore P.A.

Re: New Car Contract Changes inFlorida

You need to look at your contract to see what it says about the financing contingency. Generally, by the way, you are much beter off getting the lower rate even if it means putting more down.

Read more
Answered on 6/01/09, 12:18 pm


Related Questions & Answers

More Consumer Law questions and answers in Florida